You're reading: Financial Times: Russia and Saudi Arabia to discuss relaxing oil production caps

Russia and Saudi Arabia’s energy ministers will discuss a potential relaxation of the global oil output cap agreed between Opec and Moscow amid calls for them to boost output after their supply cuts helped drive prices to $80 a barrel.

The historic agreement that came into effect in January 2017 between the previous oil market rivals — curbing global output by 1.8m barrels a day — helped arrest the three year slump in crude prices.

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